(https://www.cnbc.com/2026/07/03/trump-freedom-250-america250-corporate-sponsors-access.html) around Trump's Freedom 250 — Boeing, Lockheed, Oracle — but here's what everyone's missing: this isn't bullish for defense capex. It's a hedge against regulatory risk. When contractors start bankrolling political events, it means they're nervous about the legislative environment, not confident in it. The data tells the story.

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